New condo-sale rule brings relief to many, grief to some (BC)
Developers, lawyers, realtors and some condominium own-ers rejoiced last summer when the B.C. government changed the law to make it easier for strata corporations to sell assets. The government’s Bill 40 lowered the bar so that if 80% of the owners in a strata corporation vote to dissolve that entity and sell the site to a developer, they can petition BC Supreme Court for final approval. The court then takes into consideration whether owners who oppose the sale will suffer a significant hardship. Court approval is not a rubber-stamp process, but proposals are now a lot more likely to find success in court than they would have before Bill 40 became law. Read the article………….
There are calls for more protection for condominium buyers after a group of new Scarborough homeowners said they were surprised
Dear Tony: I just bought a great condo that is 18 years old. I have decided to upgrade the unit
A 20-centimetre construction error will cost brand new condo owners $175.17 per year for the life of the building. Read